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MELVILLE, N.Y. - MSC Industrial Supply Co. (NYSE:MSM), a $4.9 billion market cap industrial distributor currently trading near its 52-week high of $92.68, announced Monday that Executive Vice President and Chief Financial Officer Kristen Actis-Grande will step down effective August 8, 2025, to become CFO at another publicly traded company.
Greg Clark, the company’s Vice President of Finance and Corporate Controller, will serve as interim CFO while MSC conducts a search for a permanent replacement. Clark previously held the interim CFO position in 2020 and has been with the company since 2003.
CEO Erik Gershwind expressed confidence in the transition, noting that "a combination of Greg’s leadership, a deep finance bench and a strong operating team" would maintain momentum.
The metalworking and maintenance products distributor also reported that its fiscal fourth quarter performance is trending toward the upper half of its previously provided guidance ranges. Average daily sales for June increased 2.5% year-over-year, exceeding expectations, while July’s growth rate remains positive.
Based on results to date, the company now expects fourth-quarter performance to reach the higher end of its July 1 forecast, which projected average daily sales growth between -0.5% and 1.5%, and adjusted operating margin between 8.5% and 9.0%.
Actis-Grande served nearly five years as CFO at MSC Industrial, which distributes approximately 2.4 million products and employs over 7,000 associates across North America. The company maintains a moderate debt level with a debt-to-equity ratio of 0.42 and generates a healthy gross profit margin of 41%.
The information is based on a company press release statement.
In other recent news, MSC Industrial reported its third-quarter fiscal 2025 financial results, surpassing both earnings and revenue expectations. The company’s earnings per share (EPS) reached $1.08, exceeding the forecasted $1.03 by 4.85%, while revenue came in at $971.1 million, slightly above the anticipated $970.26 million. Following these results, Loop Capital raised its price target for MSC Industrial to $84 from $74, maintaining a Hold rating, noting the company’s performance was bolstered by favorable price/cost dynamics. KeyBanc maintained its Sector Weight rating for MSC Industrial, highlighting the company’s modestly exceeded revenue expectations and slightly stronger margins. KeyBanc also mentioned that MSC Industrial’s fourth-quarter outlook suggests average daily sales above consensus estimates, though it believes management is being conservative due to ongoing softness in primary end markets.
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